Bybit’s illegal fund laundering has earned around $ 3 billion to Thorchain in trading volume and $ 3 million in fee revenue.
A cross-chain swap protocol Thorchen (Run) saw a massive growth in the activity, as the hacker of the bibet gave the money through its platform. As On-chain analyst you ginHackers, the North Korean Lazarus Group, converted the stolen athery (Ath) into bitcoin (BTC) using Thorchen, which generated a $ 2.91 billion trading volume and earned a fee of $ 3 million.
Before the laundering begins, the average daily transaction of Thorchen was approximately $ 80 million. However, from 22 February, the figure increased by an average to $ 580 million per day, a total of $ 2.91 billion in total five days. On 26 February alone, Thorchen processed $ 859.61 million in $ 859.61 million swap, its highest-grain, and $ $ 210 million more on 27 February, exceeding $ 1 billion within 48 hours. Thorchen explorer,
Swaping the stolen fund for bitcoins is a known strategy of North Korean Hacking Group Lazarus, which has been reported to obscure the Il-Got digital assets mark to use this method.
Thorchen core developer and nine realms engineers, known as “Pluto”, accepted He had passed through an illegal fund protocol. He said that the team is actively working with wallets and integration partners to implement screening services to solve the issue.
